Sungrow Power Supply Co., a leading renewable energy equipment maker, saw its shares slump as much as 8.4% in Shenzhen, hitting the lowest point in over a year. The drop follows a 32% decline in first-half net income, which fell to 68% of the previous year's figure. Intensifying competition and challenging overseas markets, particularly due to trade barriers in the US and EU, have pressured the company's financial performance.

The gross profit margin for energy storage contracted to just over 32% from nearly 40% a year earlier. Citi analysts noted the results missed expectations across both inverters and energy storage, citing lower solar installations in China and conflict-related headwinds in the Middle East. While Citi anticipates a return to year-on-year growth in the current period, this follows a policy-driven rush in solar installations that ended earlier in 2025.